Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[rokkyroad]

Another run up? Cool. Unexpected but I like it.

Those with the best crystal balls win.

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[TeeBone]

I'd like to ask the experienced guys here why the ATH is being mentioned after a reasonable increase today? Haven't we seen this over and over again and then we get battered.

What is different this time? Is it just because of the Chinese leverage ban?

Double tops are made to be broken, i dont believe in them. The next time we approach the ATH, it's gonna cut through it like butter, though i think that'll happen later this year after months of consolidating.

[molecular]

I'd like to ask the experienced guys here why the ATH is being mentioned after a reasonable increase today? Haven't we seen this over and over again and then we get battered.

What is different this time? Is it just because of the Chinese leverage ban?

huh? Tell me one instance where breaking an ATH was rejected twice. Zoom out.

[mymenace]

I'd like to ask the experienced guys here why the ATH is being mentioned after a reasonable increase today? Haven't we seen this over and over again and then we get battered.

What is different this time? Is it just because of the Chinese leverage ban?

What is different this time

1) The economy

2) Exposed corruption in politics and the financial system

3) The war on cash

4) The banks use of blockchain tech validating bitcoin

etc etc etc


I like this one - We have pink diamonds for sale $30000 a carat for fancy pink, only one mine extracts these diamonds very rare

UNTIL YOU FIND ANOTHER MINE...

Bitcoin will always be 21 million coins, no more can be mined after that

[slap]

It was already in for a moonshot until PoBC farted.

[mtwelve]

It was already in for a moonshot until PoBC farted.

And the smell will go away by itself
Looks like we're on our way back up.

[PoolMinor]

What is different this time?

What's "different this time" is that we're at the right end of a humungous great 3-year cup & handle trading pattern instead of the left end  

If you think the handle has formed already, I have a bridge to sell you.

[toknormal]

If you think the handle has formed already, I have a bridge to sell you.

Cups and handles are fractal patterns that you can see at any scale. Take your pick and we can sell each other the bridge  

[Denker]

It was already in for a moonshot until PoBC farted.

So what?
Forget the PoBC!
That was a good moment for a correction and when you were smart you used that dip as an opportunity to get some more BTC.
Now the train is back on track and speeding up again.
So take a seat and enjoy the ride dude!

[Raja_MBZ]

And the smell will go away by itself
Looks like we're on our way back up.

Yup, and this time, hopefully, we're not gonna fall back. Bitcoin will climb up smoothly as long as China stays cool and calm. Let's hope for the best, hope for very-soon $1000 cross again.

[Dafar]

The first major drop this month was over exaggerated news on China cracking down on bitcoin, when all they did is tell BTC exchanges that they can't market bitcoin with depreciating yuan, and that they should also cut down fake volume and simply warn customers that bitcoin is volatile. Not only does this show China's understanding of bitcoin, but it seems they are also taking a balanced and prudent approach with the long-term view in sight.

This drop seems exaggerated as well, BTCC says everything is business as usual. It is pretty evident by now that China does not intend to ban bitcoin nor limit the exchanges in a meaningful way.

So given what you know you tell me if the drop from $1160 to $790 was justified over the China news alone. It seems like a combination of a much needed correction accelerated by exaggerated fears of China cracking down on bitcoin when they are not. You either believed that bitcoin had no business being at $1000 during the entire run-up or you believed that it was about time, that bitcoin actually deserves to be at $1000 and that it needs to start getting expensive relatively soon for it to be sustainable. If your sentiment turned 180 from the climb to $1000 to now then you're being played by emotions and have no idea what you're doing. If you invested with the long term vision in mind I don't see any reason to panic, this is a gross over exaggeration of China's stance on bitcoin.

Also, I'm not a trader but isn't this the perfect setup for cup and handle?

And also, my dad wants to put $30K into bitcoin, you're welcome. Actually I didn't even convince him, I showed him how much I'm up on bitcoin and he asked me why I'm not selling... you guys know why, I told him there's no limit to the BTC price and things are looking good especially when the rest of the world isn't, and he's been reading up on bitcoin since

LOL at the idiots who panicked 

[600watt]

Another run up? Cool. Unexpected but I like it.

Those with the best crystal balls of steel win.

ftfy

[JimboToronto]

LOL at the idiots who panicked 

I've been laughing for almost 2 weeks now, first when a few spineless weaklings panicked over some silly PBOC rumor, then again when others continued the panic like chickens with their heads cut off.

The gloom and doom angst and ridiculous predictions of further selloffs supplied even more hours of hilarious entertainment.

To top it off, now we can laugh at the whining of those fools who failed to take advantage of the ultra-low prices to stock up.

All in all, it's been a hoot.

[JayJuanGee]

Of course BTC goes up $13.00 now after I sell some coin for the electric bill 1 hour ago! Its a budget thing lol, couldn't wait any longer

But still happy to see the rise 

Same thing happened here but i was trying to hedge my earning on that rise.

Made my place so I get to sit on the sidelines for a bit.

I think that it is a bad idea to tie up too much of your regular cash flow expenses in bitcoin.

In other words, if you know that you have a budget for $1,500 in bills per month, then the cash flow for all of that $1,500 should be properly accounted and dedicated, and probably it is a good practice to go out several months with such cash flow projections.

I personally project a lot further into the future, and I also attempt to have at least a $1,000 cushion - but also dollar based resources that I can draw from if I need extra dollars for some reason. 

Without getting into details, the fact of the matter for me is that almost none of my regular cash flow is tied up with bitcoin for some time into the future, yet every once in a while I will play with a few hundred dollars here or there in terms of either investing extra into bitcoin or taking extra out, but those extra tweakings are on the margins rather than my having to be forced to sell bitcoins as if I were over leveraged in bitcoins.

[maku]

4) The banks use of blockchain tech validating bitcoin

Private blockchains are actually a mockery of bitcoin. Banks want to rip off blockchain tech to create nothing but glorified database.
It won't be more secure that their current servesr in the basement, but they want to have mumbo jumbo PR note to boost their credentials among general public:
"Look we have this new tech, taken from bitcoin, it is impenetrable to attacks." In the meantime they won't give bitcoin a single credit.

[abercrombie]

are we rich yet ??   

[JayJuanGee]

I'd like to ask the experienced guys here why the ATH is being mentioned after a reasonable increase today? Haven't we seen this over and over again and then we get battered.

Aren't you yourself experienced enough? Even the grittiest poster here squeals 'mooooon' when it goes up $5 and then 'doooooooooooom' when it goes down by a similar amount. We're all a bunch of flighty schoolgirls while the real beasts lurk in the shadows.

You are exaggerating.

Of course several of us get excited when we see price movement in either direction, and sometimes some of us may exaggerate for real and sometimes for fun...

Price movement is the topic of this thread, so of course there is going to be enthusiasm from time to time about the topic, and especially when the price seems to be moving more, when trade volume is picking up and when there seems to be a lot going on in the background .. such as the apparent price battle that has been going on for nearly four weeks, now, if not longer...

Hadn't you noticed that BTC prices pretty much went up nonstop for more than three months and nearly doubled..  , and sure there has been quite a bit more too, but we have a lot of reasons to be excited, especially if we hold some lillie fiends and especially if we have attempted to  plan for some "IT"S HAPPENING".

You not excited these days, gentlemand?

[2017Bubble]

So it was a bear trap?

[ACAB]

So it was a bear trap?

Looks like it. Next stop $1200?

[PoolMinor]

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